MSE News Feeds http://www.maldivesstockexchange.com.mv/ 2007 Maldives Stock Exchange  To read the news in detail, please visit the following link.http://www.haveeru.com.mv/?page=details&id=93827 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=210 March 9, 2010  Please be informed that the license suspension on Aariya Securities Pvt Ltd by CMDA is lifted effective from today (9 March 2010) as per CMDA's letter number 179-CMDA/MIS/2010/46.   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=211 March 9, 2010 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=208 March 8, 2010  For more on this, please visit the following link.http://www.cmda.gov.mv/news/information-session-on-licensing-dealers  Also please click the following link to view CMDA's press release regarding the session.Information session on licensing of Dealers and Dealers' Representatives  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=209 March 8, 2010 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=207 March 8, 2010    http://www.maldivesstockexchange.com.mv/news_announcements.php?id=206 March 4, 2010 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=204 February 25, 2010  Please click the following link to view MTCC's announcement.www.mse.com.mv /docs/MTCC_Share_iulaan.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=203 February 23, 2010 The Capital Market Development Authority (CMDA) has invited all interested parties to apply for Dealers and Dealer’s Representative License to operate in the Maldives Stock Market. The licenses will be given under the Maldives Securities Act (2/2006). Please click the following link to view CMDA's announcements regarding this invitation. http://www.cmda.gov.mv/news/licensing-of-dealers-and-dealers-representatives http://www.maldivesstockexchange.com.mv/news_announcements.php?id=202 February 21, 2010  For more on this, please visit the following link. http://www.haveeru.com.mv/?page=details&id=93180&cat=search http://www.maldivesstockexchange.com.mv/news_announcements.php?id=201 February 16, 2010  The recent share issue of STO has been closed on the 10th February 2010.The Managing Director of STO, Shahid Ali stated that 82 percent of the shares were sold which is 112,912 shares. He also said that the share issue even was more successful than they had expected.  Please view the news in more detail through the following link. http://www.haveeru.com.mv/?page=details&id=93158    http://www.maldivesstockexchange.com.mv/news_announcements.php?id=200 February 14, 2010 Please click the following links to view more on this.http://www.lankabusinessonline.com/fullstory.php?nid=1495428931 http://www.miadhu.com/2010/02/local-news/maldives-in-privatization-drive-to-up-efficiency-fix-finances-imf/ http://www.miadhu.com/dv/?p=21963 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=199 February 2, 2010 Maldives Tourism Development Corporation (MTDC) agrees to settle US$ 3.5 million (Mrf 50 million) to Yacht Tours to settle the legal dispute outside the court. MTDC chairman Ibrahim Saleem (Bandhu) said the decision was made on Wednesday evening. “Herethere resort can manage well by operating charter flights,” he said. “Income cannot be generated with few tourists. The tour operators agree to operate charter flights if there is not legal dispute.” “Rather pending the US$ 55 million worth Herethere resort in the court,” said board member Ahmed Shareef. “The company and the shareholders would benefit most if we start the business operation.” Herethere resort case had made loss both MTDC and Yacht Tours; said Saleem explaining the US$ 3.5 million is not an amount paid as compensation. He added US$ 1 million will be paid as down payment and balance US$ 2.5 million to be settled in within two years. Dr Mohamed Jameel, Yacht tours legal advisor and former communication minister said “it was the best decision for the moment”. “Considering the economic crisis both nationally and worldwide,” he continued. “This is the best way for the both parties.” MTDC CEO Mohamed Mihad said after resolving the legal dispute, the company would proceed to lease the resort for a different party. “Still there are interested parties,” he said. 273-bed Herethere resort was leased to Yacht Tours – a company owned by ex-MP Abdulla Jabir – in May 2008 for US$ 18,196 per bed annually. MTDC terminated the agreement, when Yacht Tours refused to pay the rent claiming MTDC failed to stick to the agreement. Source: Haveeru Online http://www.haveeru.com.mv/english/details/29036 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=197 January 31, 2010  For more on this, please visit the following link.  http://www.haveeru.com.mv/?page=details&id=92618#comments http://www.maldivesstockexchange.com.mv/news_announcements.php?id=198 January 31, 2010 We are pleased to announce the listing of additional 88,195 Ordinary Shares of MTDC at the Official List of MSE.  As of today, a total of 3,143,971 of MTDC shares are available for trading at the Maldives Stock Exchange.  MTDC is a the only public company operating in the major income generating sector, the tourism Industry of the country. The public holds 52.29 percent of the company's issued shares while the government hold 47.71 percent of issued shares.   Please click the link below to view MTDC's press release regarding this. www.mse.com.mv/uploads/Press_Release Listing_of shares_at_MSE_24_01_10.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=171 January 20, 2010 Mr. Mohamed Naseem, the Managing Director of MTCC has been dismissed on the 14th January 2010. Mr.Mohamed Shafeeq, Ma.Fosythia has been appointed as the new Managing director of MTCC on the 16th January 2010.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=196 January 17, 2010 For more, please visit the following linkhttp://www.miadhu.com/2010/01/local-news/government-sell-20-of-mwsc-to-hitachi/ http://www.maldivesstockexchange.com.mv/news_announcements.php?id=193 January 12, 2010 Please read the news in detail on Haveeru Online through the link below.http://www.haveeru.com.mv/?page=details&id=91876&category=irWfwyiv http://www.maldivesstockexchange.com.mv/news_announcements.php?id=194 January 12, 2010 For more on this, please visit http://www.haveeru.com.mv/?page=details&id=91872&category=irWfwyiv http://www.maldivesstockexchange.com.mv/news_announcements.php?id=195 January 12, 2010 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=192 January 11, 2010  Please click the following link to view the news on Haveeru Online.http://www.haveeru.com.mv/?page=details&id=91812 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=190 January 10, 2010 Ismail Sodiq, the Assistant Manager of STO has said that STO has sold 22% of the total number of shares opened for sale during the current public offering. For more on this, please visit  http://www.haveeru.com.mv/?page=details&id=91708&category=irWfwyiv http://www.maldivesstockexchange.com.mv/news_announcements.php?id=189 January 7, 2010  Please click to view this news on Miadhu Newshttp://www.miadhu.com/2010/01/local-news/sto%E2%80%99s-shares-are-intended-for-atolls-sto/   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=188 January 4, 2010 Please be informed from 3rd January 2010, Maldives Securities Depository (MSD) will be issuing an updated statement of account to its account holders. The additional information that MSD has incorporated into the statement of account are the face value of each company and the price at which investor has bought or sold his/her shares in the secondary market. Please click the following link to view a sample of the updated MSD statement of account. Sample statement of account http://www.maldivesstockexchange.com.mv/news_announcements.php?id=187 January 3, 2010  Please be informed that all listed companies are required to comply with minimum quarterly reporting requirement for listed companies starting from the 2nd quarter of 2010. This has already been informed to listed companies by CMDA's circular 179-DRPS/2009/20. Please click the link below to view the minimum quarterly reporting requirement. Minimum quarterly reporting requirement http://www.maldivesstockexchange.com.mv/news_announcements.php?id=186 December 30, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/31st.December.2009.Holiday.pdf December 28, 2009  Please be informed that new fees of MSD have been approved by the CMDA on the 23rd December 2009. Please click the following link to view the recently approved fees of MSD.Approved.fees.of.MSD.on.23rd.December.2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=181 December 27, 2009  Please click the following link to view the news on Haveeru Online.http://www.haveeru.com.mv/?page=details&id=91321 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=182 December 27, 2009  Please follow the link below to view the 'Paying Taxes 2010' report http://www.doingbusiness.org/documents/FullReport/2010/Paying-Taxes-2010.pdf Also, you may view more on this report on Minivan News.http://minivannews.com/politics/2009/12/16/maldives-easiest-country-in-which-to-pay-tax/ http://www.maldivesstockexchange.com.mv/news_announcements.php?id=179 December 17, 2009 Please be informed that a new fine has been introduced, as per CMDA’s letter number 179-MIS/CMDA/2009/220, on listed companies upon failure to submit share allotment lists to MSE on due date during a public offering in compliance to the listing rules of MSE.  The fines and effective date of these fines approved by the board of directors of CMDA on the 15th December 2009 are laid out below.   1-      Mrf 2,500 (Maldivian Rufiyaa Two Thousand Five Hundred) per day for the first 10 days after the due date for the submission of share allotment lists to MSE. 2-      Mrf 5,000 (Maldivian Rufiyaa Five Thousand) per day starting from the 11th day after the due date for the submission of share allotment lists to MSE. 3-      The above mentioned fines would be effective starting from 1st January 2010. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=180 December 17, 2009  MTDC has been given a 10 day extension by MSE for the allocation of shares that were offered to the public from 23rd September 2009 to 4th November 2009. Please click the link below MTDC's press release regarding this.MTDC press release   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=178 December 10, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=176 December 9, 2009  To view the news in detail, please click here  You may also click here to view BML's 3rd quarter financial report. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=177 December 9, 2009  The broker training  program has been commencedon the 6th of December 2009. The program is conducted at Capital Market Development Authority from 9 am to 5 pm on all working days. Upon completion of the training program, participants will satisfy the requirements for qualification of a broker as set forth in the Regulationon Dealer’s/Dealer’s Representative License. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=175 December 8, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=174 November 23, 2009 The Brokers training program to be conducted by CMDA has been re-scheduled to 6th -17th December 2009. Furthermore, the previously announced fee of Rf 10,000 to 15,000 has been reduced to Rf 5,000. The program offers a license to operate as brokers in the stock market. Those who are interested, please confirm your participation or obtain additional information if you would like, through simply sending an email to info@mse.com.mv or a call to 330 7878. To download application form please click the following link.Broker Training Application Form  Thank you. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=173 November 16, 2009  Please be informed that MTDC's 410,566 shares which was sold during the public offering of 688,123 shares from 6th July 2009 to 18th August 2009 has now been listed at the Maldives Stock Exchange. With the newly listed shares, a total of 3,055,776 shares of MTDC are listed at MSE and would be available for trading through the secondary market.  Please click here to view MTDC's press release regarding listing of new shares.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=172 November 10, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=170 November 9, 2009 The State Trade Organization (STO) of Maldives has decided to sell Mrf 138,472 worth of shares to the public. STO has opened the opportunity to buy these shares only for local companies and associations at a price of Mrf 400 per share and this will go on from 25 November 2009 till 10 January 2010. The Organization has specified to purchase 5 shares minimum but does not specify a maximum amount. The application forms for buying shares will be made available in STO website. According to STO, the purpose of selling these shares was to minimize government share of the organization and to promote privatization. STO was registered as a public company in August 2001. STO has issued 1,126,910 shares out of which 92.29% is held by the Government and 7.71% is held by the general public.Source: Maidhu Newshttp://www.miadhu.com.mv/2009/11/local-news/sto-to-sell-it%E2%80%99s-shares/  Further, please click here to view STO's announcement regarding the share issue.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=166 November 5, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/STO.press.release.pdf November 5, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=168 November 5, 2009 Please be informed that the Main Board and Second Board Listing Rules of MSE has been amended and approved by CMDA. Please find the amended listing rules in the links below. Amended Listing Rules Main Board Amended Listing Rules Second Board http://www.maldivesstockexchange.com.mv/news_announcements.php?id=165 November 2, 2009 For more, please visit  http://www.haveeru.com.mv/?page=details&id=89498 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=163 November 1, 2009               Please visit this link to read the news in detail. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=162 October 28, 2009 STO has decided to sell 13% of its government shares during the upcoming month of November. In a press briefing held at STO head office on the 19thOct 2009, the managing director of STO, Mr.Shahid Ali said that 138,442 shares out of the govenment owned shares is to be sold to the public and all preparations have been made to start selling shares during the third week of November 2009. He further said that by the end of this year, if those shares are completely sold, the govenment will have 80% shares while the other 20% shares would be held by the public. Currently, the government holds 92.29% shares of STO which is 1,040,000 shares. Public shareholding percentage is 7.71% which is 86,910 shares. STO sold shares initially during the year 2001.  To read the news in detail on Haveeru, please visit the following link.http://www.haveeru.com.mv/?page=details&id=89107 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=161 October 21, 2009 The Brokers training program to be conducted by CMDA has been re-scheduled for November 2009. Furthermore, the previously announced fee of Rf 10,000 to 15,000 has been reduced to Rf 5,000. The program offers a license to operate as brokers in the stock market. Those who are interested, please confirm your participation or obtain additional information if you would like, through simply sending an email to info@mse.com.mv or a call to 330 7878.Thank you. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=158 October 19, 2009  Please read the news in detail on Minivan news http://www.minivannews.com/news_detail.php?id=7520 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=159 October 19, 2009 Mr.Ibrahim Nasir, the CEO of Maldives Stock Exchange has attended the 13th General Meeting of Asia-Pacific CSD Group (ACG13) which was held in Hanoi, Vietnam, on October 8-9, 2009. Featuring the theme of "Facilitating development of cross-border linkages among ACG members" the meeting covered various issues and initiatives like why and how to develop cross-border linkages, identification of barriers to cross-border linkages and practical cross-border business linkages. Presentations from other regional CSD groups and key players in Vietnam's securities market and financial sector was also exhibited. Please click the link below to view MSE's announcement regarding ACG13. http://www.mse.com.mv/docs/news_media_ACG13.pdf  For the news on Haveeru Online, please click the link below.http://www.haveeru.com.mv/?page=details&id=89112   Below are some of the pictures of the Meeting. (Please click for a large preview)       http://www.maldivesstockexchange.com.mv/news_announcements.php?id=156 October 13, 2009 Please view the story on Haveeru Online through the following linkhttp://www.haveeru.com.mv/?page=details&id=88813 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=155 October 13, 2009 The project of establishing transport network in mid north province for 50 years has been given to MTCC. On 7th October 2009, the agreement was signed by MTCC's managing director Mohamed Naseem and the Transport Minister Mohamed Aslam. For more details, please visit the following link. http://www.haveeru.com.mv/?page=details&id=88637 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=154 October 8, 2009 Follow the link below to view the story on Haveeruhttp://www.haveeru.com.mv/?page=details&id=88454&cat=search Please follow the link below to view BML's Second Quarter 2009 financial report. http://ebanking.bankofmaldives.com.mv/downloads/BML_FR_Q2_09b.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=151 October 6, 2009 MSE held talks with the Ministry of Finance with regards to the introduction of debt securities to the capital market. Based on the positive response, MSE is determined to offer bonds to be traded in the secondary market.For a coverage of this news on Haveeru, please follow the link below.http://www.haveeru.com.mv/?page=details&id=88520&category=irWfwyiv http://www.maldivesstockexchange.com.mv/news_announcements.php?id=152 October 6, 2009 To view this news in detail on haveeru, please follow the link below. http://www.haveeru.com.mv/?page=details&id=88447 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=149 October 5, 2009 For the detailed news on Haveeru Online, please follow the link below. http://www.haveeru.com.mv/?page=details&id=88420&cat=search http://www.maldivesstockexchange.com.mv/news_announcements.php?id=150 October 5, 2009 Click the link below to download share subsription form and MSD account opening form.http://www.mse.com.mv/docs/Share_subscription_forms.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=148 September 28, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/DEK.Liquidation.pdf September 23, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/announcement.regarding.allocation.of.MTDC.shares.pdf September 16, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/MTDC_IPO_Third_Phase_extended.pdf September 16, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/Errorneous_Information_in_Website.pdf September 10, 2009 Please be informed that we have change the format and name of Share Transfer Form (Form 08) of public companies. The new form 08 is called Securities Deposit / Withdrawal / PST Form (Form 08). We would be using this form for the same purpose as before. That is for: Securities Deposits, Withdrawals,Physical Share Transfers (PST).Kindly note that from 1st September 2009 onwards MSD would accept only the new form 08 for the above mentioned purpose.Please click the link below to obtain the new form 08 (Securities Deposits / Withdrawals / PST Form) and list of documents that are required to submit with the form.   Securities Deposit / Withdrawal / PST Form (Form 08)  Also, you could download this form through MSD website www.msd.com.mv http://www.maldivesstockexchange.com.mv/news_announcements.php?id=142 August 31, 2009 MTDC has announced that it has taken over Herethere resort last Monday. Mr.Mohamed Mihad, CEO and Managing Director of MTDC has said that it had accepted Herethe resort, deployed thier team and that MTDC would look after the security issues of island. He further said that some staff and equipments of Yacht Tours are still there at the resort and that they did not take over those staff and equipments. However, MTDC has written to Yacht Tours to come to a decision regarding the issue.    http://www.maldivesstockexchange.com.mv/news_announcements.php?id=141 August 27, 2009 Over 400,000 shares were sold when the time allocated for sale of shares lapsed on Tuesday, Maldives Tourism Development Corporation (MTDC) has revealed. Speaking at a press conference held at Fansavees Maalum/ Dharubaruge, MTDC Managing Director Mohamed Mihad said the sale of company shares exceeded expectations and that out of 688,123 shares some 410,713 were sold. He said when as the deadline for sale neared, members of the public has contacted company seniors and staff and asked to extend the deadline. As such, after due consideration, company’s Board, has decided to open sales of the remaining 277,410 shares, after the Ramazan. “When the deadline for the sales of company shares lapsed on 18 August , 60 percent of the shares were sold , that is Rf.67.7 million; the sales were better than our expectations, that is the current economic situation is not very good, during this very difficult period , we expected on 50 percent of shares to be sold, however, during this period sales exceeded our expectations, some people even contacted our board directors and staff and have urged to extend the deadline , as such the board has decided to open sale of the remaining 40 percent , after the Ramazan, it is at the request of many people and we have received approval from our advisors” Mihad said. MD Mihad revealed that over 400,000 shares were purchased by 3,856 parties. He said most number of shares were sold on 18 August and on that day alone over 65,000 shares were purchased. Sales of the remaining 40 percent shares will commence on 23 September and will continue till 4 November. Shares are sold at a value of Rf.165 per share. “Most number of shares were sold on 18 August, that day over 65,000 shares were sold , on other days an average of 10,000 shares were sold per day, sales of the remaining shares will commence on 23 September and will continue till 4 November” said MTDC MD. The revenue earned from sales of the 688,132 shares is to be spent on the development of City Hotel in Uligamu of Ha Atoll. The hotel is designed to be a 3 star 100 beds tourist resort. MTDC reports work on the hotel will be completed and the hotel will be opened by end of the year. MTDC has leased 9 islands for development of tourist resorts from the government. Out of which on Herethere Resort has been completed and opened for business. The rest of the islands are Uligamu, Vodamulla , Ebudhoofutta , Olhuvelifushi , Naagoshi , Kihavah huravelhi , Mamuddhua and Kodeymathilabadhoo. Source: Miadhu News http://www.maldivesstockexchange.com.mv/news_announcements.php?id=140 August 23, 2009 MTCC has held an EGM on the 19th August 2009 in order to elect a new member to the board. 10 shareholders attended the meeting while there were 8 proxies representing 337 shareholders. The new member elected to represent the public shareholders in the board is Mr.Ali Shafeeu, M. Hudhukaneeruge'. Please follow the link below in order to view MTCC's news release regarding the EGM. http://www.mtcc.com.mv/dwnlds/sgm2009NewsRelease.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=138 August 20, 2009 Please be informed that the working hours for Maldives Stock Exchange (MSE) and the Maldives Securities Depository (MSD) will be 0930 hrs to 1400 hrs. The trading hours at MSE will be 1000 hrs to 1300 hrs and the customer hours at MSD will be 0930 hrs to 1300 hrs. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=139 August 20, 2009 Details of Course:Starting Date: 27th September 2009 Duration: 10 DaysSessions: Morning 9:00 am to 12:00 pm              Afternoon  1:30 pm to 5:00 pmFees: MRF 10,000 - 15,000 (between Ten thousand to Fifteen thousand) For further information please contact below numbers or send an e-mail Maldives Stock Exchange PvtPhone: 330 7878e-mail: info@mse.com.mv Capital Market Development AuthorityPhone: 333 6619 e-mail: cmcgi@cmda.gov.mv Please click the following link to view CMDA's announcement regarding this training program. http://www.mse.com.mv/docs/Broker.training.pdf   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=137 August 19, 2009 MTDC and BML have started distributing dividend to their shareholders. Last Monday, BML started distributing the dividend of Rf9  which was declared in it's last AGM. BML announced that the due date for collecting the dividend is 29th October 2009 and that it could be collected from the Corporate Affairs Department at the 6th Floor of BML main branch and all the island branches as well. After 29th October, dividend could only be collected from the BML's Corporate Affairs Department. BML had further announced that they have already deposited the dividends for those shareholders who requested to deposit it to thier bank accounts and for other shareholders, the dividends could be collected at the bank branches upon visiting along with the share certificate and National ID card. Also, a person on behalf of the shareholder can collect the dividend if the person has a letter of the shareholder permitting to do so.MTDC had announced an interim dividend of Rf 20 at it's 3rd AGM. MTDC commenced the dividend distribution last Thursday. They have arranged the dividend distribution so that dividend would be deposited directly to the shareholder's bank account upon submitting the dividend application form which would be available at MTDC head office and also it's website.   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=135 August 18, 2009 Please be informed that the MSE Investor Education Program is taking a break for the month of Ramadan and would be commenced after Ramadan.   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=134 August 12, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/Approved.Fee.Schedule.pdf August 10, 2009 Maldives Tourism Development Cooperation had said that the Company is working on re-possessing Herethere and that it is working on re-leasing the resort to another party after the bidding process and that it hopes to put the resort back in the market by November 2009. As the Civil Court had issued its verdict on 23 July, calling the Yacht Tours to return the resort within a month to MTDC, due to failure to pay the rent, MTDC’s Chairman, Bandhu Ibrahim Saleem said that he hopes that would be done within 15 days. In a press conference held in the MTDC’s head office, he said that the cost of damages to the property is being calculated, section by section. He also said that the final position on that would depend on the analysis of the damages incurred and on the negotiations with Yacht Tours. It was also revealed that the MTDC would hire temporary workers to repair the resort and that it would try to hire locals as much as possible. Chairman also said that one of the objectives of the Company is to provide job opportunities for locals and that it would continue to work to achieve that. He also said that the main focus at the moment is on completing 9 resorts and bringing them to the market, out of 15 handed to MTDC. Out of the 9 resorts only two, Herethere and Uligamu City Hotel, would be directly developed by the MTDC. The main constraint on completing the 50 bed City Hotel in Uligamu is the lack of available sand. It was also stated during the press conference that the Company is confident that the Uligamu City Hotel would be open for the market during the 2009/10 tourism season.  Source: Miadhu News   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=133 August 10, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/Wataniya.agreement.sign.off.pdf August 9, 2009 This is to bring to the kind notice of all, that Aariya Securities Pvt Ltd's office has been shifted from Ahmedhee Building 3rd Floor to #03-05 of STO Trade Centre with immediate effect. Phone numbers / fax  will remain same and  will be connected within the next 2-3 days. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=131 August 9, 2009 BML has held it's 26th AGM on 7th August 2009. At the meeting, a dividend of RF 9 was declared after two rounds of voting by the shareholders. The newly appointed eight shareholders to represent the government are as below. 1- Adam Ibrahim, M.Asrafee2- Ganesh Subramaniam, BML CEO3- Aishath Nooraddeen, M.Thaangeedhoshuge4- Assadh Ali, M.Vaareyvilla5- Fareehaa Shareef, H.Yellowrose6- Ismail Yasir, M.Huivani7- Mohamed Athif, S.Hithadhoo Almas 8- Mohamed Jaish Ibrahim, Ma.Anoomaa 11 candidates applied for the 3 vacant positions of board directors to represent the public shareholders. The 3 elected directors are as below. 1- Ibrahim Mohamed, N.Holhudhoo, Nelam2- Mohamed Abdussattaar, Ma.Tulip villa3- Ahmed Mohamed, G.Ufaa  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=132 August 9, 2009 MTDC has started preparation for taking over of Herethera Island Resort as the Court has ordered Yacht Tours Maldives Pvt Ltd to Handover Herethera to MTDC within one month. MTDC says that they have sent a team to Herethera on 4th August 2009 and they are getting full support from Yacht Tours Maldives Pvt Ltd as well as from Herethera Island Resort. MTDC has informed that on 23rd July 2009 Court has ordered Yacht Tours Maldives Pvt Ltd to pay 11 million rufiyaa to MTDC within two months of time. This is for the resort insurance fee and the stocks that MTDC has given to Yacht Tours Maldives Pvt Ltd.  Also they have said that they have filed a case in court for the outstanding amount of rent and the case is still ongoing.  They briefed that at present Herethera Island Resort is the only way that they can earn cash and if they are not able to earn cash from Herethera then they will face difficulties to pay dividends to their shareholders. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=129 August 6, 2009 MTCC has arranged an Extraordinary General Meeting (EGM) in order to fill it's currently open board position. The meeting is scheduled to be held on the 19th August 2009, 9 pm at 'Stelco Maalam'  All shareholders are requested to be present along with the share registry number and National ID card at 'Stelco Maalam' on the 19th of August 2009 between 8 pm and 9 pm for registration purposes. Those shareholders who cannot attend the meeting and would like to send a person on behalf of the shareholder must visit MTCC head office 48 hours prior to the EGM with a proxy letter, copy of the shareholder's National ID card and a copy of the National ID card of the proxy holder. Also, the person who brings the proxy letter to MTCC should remember to bring the national ID card too. The deadline to submit proxies is 9 pm of 17th August 2009.A sample proxy letter would be available  from the 1st floor, MTCC head office and also through MTCC website www.mtcc.com.mv.MTCC had announced the resignation of one of its board members among shareholders. To fill this open board position, MTCC has invited all interested parties to apply for this vacancy. A member for this position will be elected in the upcoming Extra Ordinary Meeting to be held on the 19th of August 2009. Only shareholders who are in the MTCC's share registry as at 01:30 pm of 16th August 2009 would be eligible to participate in the EGM.Please note that shareholders would have to buy shares or transfer shares before 12:00 pm of 12th August 2009 in order to be in the share registry on the 16th August 2009.  Click the following link to view MTCC's announcement regarding the EGMhttp://www.mse.com.mv/docs/MTCC_EGM.pdf   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=126 August 5, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=127 August 5, 2009 STO's Managing Director Mr.Shahid Ali has said that STO is planning to go for a public offering during September 2009. He also said that initially, STO intended to issue shares during this July. However, as Ramazan is on the way and MTDC is currently issuing shares, STO decided to postpone the share issue to September after the Ramazan. The company in which  7.7% of it's shares are held by the public is intending to issue a total of 138,000 shares at a price which has not yet been disclosed. This share issue of 13% of STO's shares would increase the public shareholding percentage of the company to 20%.The company with Goverment and public shareholdings has decided to distribute Rf 65 as a dividend out of it's profit made last year. According to STO's annual report, a net profit of Rf 155.6 Million was made out of Rf 6.89 Billion worth trading. In addition, the report also stated that STO's earnings per share was Rf 138.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=125 July 30, 2009 The 26th AGM of BML is scheduled to be held at the Conference Hall of the Islamic Centre at 20:30 hrs on Friday, 07th August 2009.All shareholders and proxy holders are requested to be present at Islamic Centre between 08:00 pm and 08:25 pm with the National Identity Card or passport for registration. Please follow the link below to view BML's 2nd notice for it's 26th AGM.http://ebanking.bankofmaldives.com.mv/downloads/pressrelease/2009/2nd_26th_agm_notice.pdf  Further, please find BML's 2nd notice about directors in the following link http://ebanking.bankofmaldives.com.mv/downloads/pressrelease/2009/2nd_notice_about_directors.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=122 July 28, 2009 BML share register for 2008 would be closing on the 07th July 2009 at 1:30 pm. Investors would have to trade/transfer shares on or before the 29th July 2009, 12 pm to be in the 2008 share register of BML and hence recieve it's dividends. Please click the following link to view BML's notice regarding this.http://ebanking.bankofmaldives.com.mv/downloads/pressrelease/2009/2nd_share_registry_notice.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=123 July 28, 2009 The new board of directors appointed at the 3rd AGM of MTDC which was held on the 16th of July 2009, as per it's articles of association, has elected a chairman and managing director for the company at their first board meeting. As per the articles of association of MTDC, the chairman and managing director could be appointed only with a majority of the directors representing the government opting for it. Accordingly, by winning a good majority of the board at the 58th board meeting of MTDC held on 20th July, Mr.Ibrahim Saleem, Ma.Bandhuge' was elected as the Chairman and Mr.Mohamed Mihad, Ma.Montreal was elected as the Managing Director.   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=121 July 22, 2009 The Minister of Housing and Urban Development has stated at a press breifing at Dharubaaruge' 'Fansavees' that both MTDC and STO has expressed an interest in building flats at two locations of Male'. Mr.Aslam said that STO is interested in building flats at the area near 'Raaveriyaa' restaurant while MTDC is interested in building flats at the 'Sawmill' area. The Minister further said that the Ministry is considering to award the project of building 113 flats near Raaveriyaa restaurant to STO while the ministry is considering in handing MTDC to build 109 flats at the 'Sawmill' area.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=120 July 21, 2009 The MTDC has decided to issue an interim dividend of Rf 20 at it's 3rd AGM which was held at the conference hall of Islamic Centre on the 16th July 2009 at 8 pm.This was decided with 52% of the shareholders who attended the meeting. Some shareholders proposed to lower the dividend to Rf 10 while others even suggested not to issue a dividend at all this year.  MTDC has declared this dividend with CMDA's approval. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=118 July 19, 2009  Fathuru Maldives targets to issue 89,600 shares at MRf1000/- per share to raise MRf 89.6 million. The target date to issue shares is within the 2nd quarter of 2009. Negotiations are ongoing to decide an issue handling partner (or Banker) to IPO. Source: http://www.fathuru.com.mv  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=93 July 15, 2009 The board of directors of BML has decided to postpone it's 26th AGM which had been scheduled to be held on the 16th of July 2009 at 8:30 pm. The board has taken this decision as per CMDA's request too. CMDA adviced BML to postpone the AGM since MTDC has also scheduled an AGM for the 16th July 2009 and this cause inconvenience for the investors to attend both AGMs or even deprive the investors from the opportunity. BML has said that it would announce a date on which the AGM would be held as soon as possible. Please view BML's press release regarding the AGM by clicking the link below.http://ebanking.bankofmaldives.com.mv/downloads/pressrelease/ChangeOfAGMdate.pdf   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=117 July 15, 2009 MSE has attended a retreat organised by the President's Office to discuss public private partnerships. Members from the private sector, civil society, state-owned companies and foreign organisations in the Maldives participated in the retreat while it is the second such meeting. Delivering his opening remarks, Minister of Economic Development Mr Mohamed Rasheed said that the government’s policy was to provide efficient and timely services to the people. He also noted the importance of the support and cooperation of the private sector in implementing this policy. Chairman of the Privatisation Committee Minister Mahmood Razi also spoke at the meeting. He spoke on privatisation of public services and on the benefits of such a system. Minister of State for Finance and Treasury, Mr Ahmed As-ad delivered closing remarks. He spoke on the benefits of privatisation.Source: http://www.presidencymaldives.gov.mv/4/?ref=1,5,1383 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=119 July 9, 2009 Maldives Tourism Development Corporation (MTDC) has commenced sale of some 688,123 shares to the public. The shares with a face value of Rf.100 are sold with a premium of Rf.65 at Rf.165 per share. A maximum of 3,333 shares are to be sold to each individual. Briefing the media at Fansavees Maalum yesterday, the corporation’s Managing Director Mohamed Mihad said only 688,123 shares will be sold this time and that these shares are what have been left of the 833,000 shares that were allocated for sale in 2006. “We are opening this opportunity to sell off the remaining shares of the second round of sale, each share cost Rf.165, sales of our shares will be managed by Bank of Maldives, purchasing forms can be obtained from branch offices of Bank of Maldives in Male’ and atolls, in islands without a branch office of Bank of Maldives, forms can be obtained from atoll dhoni when it arrives in the island, island offices will provide necessary assistance and support” Mihad said. He said during sale of shares, priority will be given to members of public who do not already poses any share or to members of the public having shares less than a 100. MTDC shares can be purchased till 1300 hours Tuesday 18 August and the money generated from sale of 688,123 shares are to be invested on the development of City Hotel in Ha Uligamu. The City Hotel is a hundred beds -resort and is expected to be completed and opened by end of this year, MTDC has said. MTDC leased 9 islands from the government for development of tourist resorts. One of the resorts, Herethere Resort in Addu Atoll, is already opened. Other islands under development are Uligamu , Vodamulla , Ebudhoofushi Oluveli , Hdh Naagoshi , Baa Atoll Kihavahhuravelhi , Gdh Mamuddua and Ga Kodeymathilaabandhoo.  Source: Miadhu News Please click the following link to download the share subscription form http://www.mse.com.mv/docs/Share_subscription_forms.pdf Please note that the shares bought in this share issue would be deposited into your share account at Maldives Securites Depository(MSD) as mentioned in the prospectus of MTDC.    http://www.maldivesstockexchange.com.mv/news_announcements.php?id=116 July 6, 2009 MTDC had issued the 2nd Notice of the 3rd AGM. As per the Notice, the 3rd AGM of MTDC will be reconvened on the 16th July 2009.  The meeting is to be held at the Conference Hall of the Islamic Centre at 2000hrs of Thursday, 16th July 2009. Please click the following link to view MTDC's 2nd notice about the AGM http://www.mtdc.com.mv/attachments/068_2nd%20Notice%20of%203rd%20AGM%202008.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=115 July 5, 2009 Dhiraagu, the No.1 Mobile Service Provider in the Maldives, has launched a completely new service dubbed the Mobile Service Menu.  At the service launching ceremony held at STO Trade Center yesterday morning, Dhiraagu’s Marketing and Public Relations Manager Mohamed Mirushan said customers instead calling customer services for help can easily access the company’s value added services by simply keying *123#.  “When *123# is keyed , all value added services will be on display , customers can use any brand of mobile, a number is allocated to each service , by keying the number allocated for the service and pressing ‘send’ will give access to the service. Our objective, here, is to facilitate easy access to value added services for customers” Mirushan said.  Mobile Service Menu is a menu which offers customers the easiest way possible to access the VAS services, which currently include Account Balance, Recharge a friend’s mobile, Flight Information, IGMH OPD Doctors’ Duty Information, Prayer Times, SMS voting for TV programs, Stock market updates, amongst many others.  “With so many value added services to choose from, customers may find it difficult to remember the required keyword , so this service is introduced as a means of convenient and easy means for customers to gain access to services, this service is completely free of charge” Mirushan said.  Dhiraagu said the company is constantly seeking new products and services to offer to customers, consistent with company’s policy of improving and enhancing the total customer experience.  Source: Miadhu News   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=113 July 2, 2009 Please be informed that Island Securities & Brokerage Pvt Ltd (ISB) is currently being liquidated upon their request. Consequently, CMDA has revoked it's securities dealing license today (1st July 2009) as per CMDA's letter 179-CMDA/MIS/2009/128   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=112 July 1, 2009  Allied Insurance Company of Maldives has decided not to issue shares in this year. They took this decision as many companies are going to issue shares in this year. However Allied will be issuing shares in a near future. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=107 June 29, 2009 MTDC intends to issue 688,123 shares to public. The Subscription will be open at 8.00 am on 6th July 2009 and will close at 1.30 pm on 18th August 2009. The selling price of a share is MRF 165.00 with a premium of MRF 65.00 and the phase value of MRF 100.00.  The prospectus and forms related to this issue are available at MTDC website.Also visit the following link to see the prospectus of MTDC regarding this share issue.http://www.mtdc.com.mv/attachments/057_MTDC%20prospectus%202009.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=111 June 29, 2009  Please click the link below to view BML's notice to shareholders regarding proxies for AGM 2009.www.mse.com.mv/docs/Proxy.Dhivehi.pdf  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=106 June 28, 2009  BML share register for 2008 would be closing on the 14th July 2009 at 1:30 pm. Investors would have to trade/transfer shares on or before the 12th July 2009, 12 pm to be in the 2008 BML share register and hence recieve it's dividends. Please click the following link to view BML's notice regarding this.http://www.mse.com.mv/docs/BML.Share.Registry.pdf http://www.maldivesstockexchange.com.mv/news_announcements.php?id=110 June 28, 2009 Tourism company Yacht Tours is suing the Maldives Tourism Development Corporation (MTDC) for US$55 million in damages due to the dispute over Herethera (Handhufushi) Resort. Speaking to Minivan News today, Dhiyana Saeed, lawyer for Yacht Tours, said US$10 million was for the losses incurred since the start of the legal dispute.  The company claimed the dispute led to a low occupancy level and earlier this month, tour operators announced they would no longer send tourists to the resort. The remainder, said Dhiyana, was for the projected losses, as Yacht Tours entered into a 20-year rental agreement with MTDC last year. “A court ruled that MTDC was in breach of the agreement, therefore that entitles us to damages,” said Dhiyana.    The two companies have been in and out of the courts since January after Yacht Tours refused to pay MTDC rent, claiming the public-owned corporation failed to fulfill its contractual obligation to build a channel between Herethera and neighbouring inhabited island, Hulhudhoo. At the time, MTDC asked Yacht Tours to pay the outstanding rent and hand back the resort. Yacht Tours responded by filing a claim for US$67 million in damages, which was later reduced to US$45 million.  While the court ruled against them, saying they were unable to calculate the proposed projected loss, Dhiyana said Yacht Tours now had two reports to back up their claim: an audit from financial advisory company Ernst & Young and a second from a management consultancy firm, which conducted a financial forecast.  “We have asked for a declaration that we don’t have to pay rent or liquidation,” said former attorney general Dhiyana.  MTDC Managing Director Mohamed Mihad said the US$55 million “simply” did not make sense to him. “They started with US$67 million, it came down to US$45 million and now another figure has come.” MTDC has three cases lodged against Yacht Tours. The first is to recover unpaid rent, the second to evict the company from the resort and the third is to recoup money paid by MTDC for insurance and stock.  Mihad said MTDC handed over the resort to Yacht Tours last summer with around US$800,000 worth of stock, which was never repaid. Further, insurance for the resort had been paid for by MTDC ever since the takeover.  The last court verdict issued in April ordered Yacht Tours to pay the outstanding rent of US$8 million and gave MTDC permission to retrieve the US$10 million bank guarantee.  But a second ruling ordered Habib bank, the holder of the guarantee, to withhold the money until further notice. The MTDC was established as a public enterprise with 55 per cent of its shares sold to the public to encourage the redistribution of tourist profits. The resort, which opened in 2007, was intended to boost the local economy in Addu atoll, considered by many to have been economically neglected by the government.  But, hundreds of the local employees have been dismissed due to the resort’s low occupancy levels. The ongoing dispute led to government ministers holding a press conference this month, announcing plans to step in as mediators. Speaking to Minivan News earlier this month, Yacht Tours Chairman Abdulla Jabir said he was willing to settle out of court. Asked whether this was an option, Mihad said he heard Jabir had publicly announced he would be willing to hand over the resort if the bank guarantee was returned. “The board is considering it and we will give a counter offer. It’s not an easy decision to make,” said Mihad. Source: Minivan News http://www.maldivesstockexchange.com.mv/news_announcements.php?id=98 June 22, 2009  Like the stock quotes via Dhiraagu SMS, Wataniya customers can also get the latest stock quotes via an SMS.To acquire stock quotes, send an SMS in the manner detailed below to the shortcode 131.  STOCK(Space)STOCK SYMBOL Stock symbols that can be used are MTCC,STO,BML and MTDC.Eg: Type STOCK(space)BML and send to 131  Please click the following link to view Wataniya's press release regarding SMS Stock Exhange.www.mse.com.mv/docs/wataniya.press.release.pdf Also, please follow the link below to view Dhiraagu's web content about this service.http://www.dhiraagu.com.mv/mobile/value_added_services/stock_market.php http://www.maldivesstockexchange.com.mv/news_announcements.php?id=97 June 18, 2009 Stock Brokers Maldives will be relocated at STO Trade Center Building, 3rd floor, with effective from 14th June 2009.The phone numbers and fax numbers of the company will remain the same which is (Phone) 3334451 and (Fax) 3334453 respectively.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=96 June 15, 2009 Profits of the State Trading Organisation (STO) for 2008 increased ten per cent from the previous year by Rf155 million (US$12 million), reports Haveeru. According to the annual report released last week, 82 per cent of the profits come from selling oil, while business transactions increased by 33 per cent.  Dividends per share rose from Rf126 (US$9) to Rf138 (US$10) last year. The company added to its profits by selling a tea plantation in Sri Lanka for US$500,000 and US$3.65 million from selling the resort in Alif Dhaal Vakafaru.  Further, STO paid property zakat (alms for the poor) for the first time last year in the amount Rf4.3 million (334,000). The STO annual shareholder's meeting will take place on 14 June. Please visit the following link to read STO's Annual Report 2008 http://www.stomaldives.com/AGM2009/AGM/complete.pdf  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=92 June 1, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=90 May 20, 2009 http://www.maldivesstockexchange.com.mv/news_announcements.php?id=87 May 14, 2009  A presentation was given to students of Majeedhiyya School on the 13th May 2009 under the Investor Education Program launched by MSE last month.  Approximately 60 students attended the presentation which started at 7 pm.   http://www.maldivesstockexchange.com.mv/news_announcements.php?id=88 May 14, 2009 An EGM (Extraordinary General Meeting) of STO has been held on the 11th May 2009 in order to revise it's Articles of Association and Memorandum of Association in conformity to the Companies Act (10/96), Corporate Governance Code of CMDA and Listing Rules of Maldives Stock Exchange. However, the meeting was called off with 14 days notice to hold the meeting on the 28th May 2009, since the quorum was not met. 21 Shareholders  (0 proxies and 21 members) attended the meeting. Please visit http://www.stomaldives.com/media/pdf/egm09.pdf to view the announcement by STO regarding this matter.  http://www.maldivesstockexchange.com.mv/news_announcements.php?id=85 May 12, 2009 An Investor Education Program of MSE has commenced on the 22nd April 2009. The program was initiated by a presentation given to students at Aminiyya School in order to educate them about the capital market.The program will be conducted in phases where presentations would be given to schools and other areas of the community.      http://www.maldivesstockexchange.com.mv/news_announcements.php?id=78 April 22, 2009 The Second Annual General Meeting of the Maldives Stock Exchange will be held on Thursday, the 16th of April at Mookai Conference Hall. The meeting will commence at 2000 hrs with the majority of the shareholders who are expected to be present. A third of the Non Executive Directors will resign in the meeting and new Directors will be elected to the board.  The CEO will give a summary of the past years business activities and present the shareholders with the future outlook of the organization. http://www.maldivesstockexchange.com.mv/news_announcements.php?id=77 April 16, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/relocation_eng.pdf February 4, 2009 Download attachement http://www.maldivesstockexchange.com.mv/docs/pr_bml_22jan.pdf January 26, 2009